Gabriel Ngo

July 24, 2022

Leading with Emotional Intelligence

EI, the biggest workplace performance predictor and strongest driver of leadership and personal excellence, begins with you. “Let us all be the leaders we wish we had.”– Simon Sinek, Author and Inspirational Speaker While there is no “I” in TEAM, the winning team you build (or currently have) must start somewhere, and that somewhere begins with you, Mr./Ms. Owner-Operator. By default, and regardless of whether you wanted to be a leader or not, your team looks to you to be captain of your ship. Throughout my career, I have worked for others and found myself wishing that this leader was more “this way” and that leader more “that way.” However, none of us is ever complete and perfect. I have always found myself learning what I should do under past managers and leaders, but just as importantly, I have learned […]
July 24, 2022

Should You Be the Amazon of Deathcare?

E-commerce Is What Families Are Expecting Serve future customers. Is that not what all businesses set out to do? Substitute “customers” with “families” and replace “stores” with “funeral homes” and the quote below from the CEO of Walmart could have easily come from Tom Ryan (SCI), Mel Payne (Carriage), Brad Green (Park Lawn), or any other CEO for companies in the funeral, cemetery, and cremation profession. Or replace “customers” with “patients” and “stores” with “hospitals” and this quote can easily apply to hospitals/healthcare as well (and make no mistake about it folks, hospitals are businesses, with the majority of them being for profit). However, the part of the quote that I would like to focus on is “e-commerce” (before tying it all back to the rest of the quote and what it all means to you). So, what is e-commerce? […]
June 26, 2022

Legal Check: Who Is Entitled to Preneed Growth?

Scenario: Rico Funeral Home & Cremations has been successfully growing market share since it first started serving the community in southern Ohio over six years ago. Owner/operator Bernardo (“Bernie”) Rico had primarily focused on serving at-need calls because of his operational growth strategy and because of its immediate impact on cash flow. However, Bernie’s families had been inquiring more and more about preplanning and preneed, so Bernie partnered with a third-party preneed insurance provider a little less than two years ago. Bernie’s strategy was to actively sell preneed to areas of town or zip codes where his business was not already drawing at-need business and more passively to parts of the community where the at-need business was already coming from. Results have been pretty good, with Rico Funeral Home & Cremations building up a solid backlog of its preneed book […]
December 21, 2021

Legal Check: Funeral Home Negligence

Scenario: Ibanez Family Funerals & Cremations has been a successful family-owned funeral home business in Texas for the past 17 years. Due to the continued rising cremation rates in his market, Richard Ibanez decided to build out and expand his prep room space along with having a cremation area and retort installed about three years ago. Along with being licensed funeral directors, Richard’s two sons, Bill and Ricky, are also responsible for managing the prep room and the crematory, respectively. The Ibanez family has continued to serve their community extremely well with both their funeral and cremation service offerings. Unfortunately, Ibanez Family Funerals & Cremations has been dealing with two very angry families who might threaten to bring lawsuits against them. Both families have the last name of Smith. Adam Smith was a 28-year-old male who died in the line […]
July 21, 2021

2022 Capital Gains Tax Effect On Selling Your Business

“Windows of opportunity open then close.  By staying in the present, handling what’s in front of us, and riding the wave of opportunity when it comes, we follow the natural order of things.” – Dan Millman (American author and lecturer in personal development) Would you rather pay a 20% tax or be taxed almost double that at 39.6%?  This is by no means a trick question as most of us would very quickly choose to pay a 20% tax as opposed to a 39.6% tax.  However, the rhetorical question posed above is one that many funeral, cemetery, and crematory owners will have to practically answer or have this question answered for them when selling their business…because the window of time for those wanting to “ride the wave of opportunity” and not have to pay the higher tax is closing.  And […]
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